A retired city financier from Petworth has published a book to help people understand and plan their finances better and to raise money for charity.
Jo Welman, 56, who retired from a 35 year long career in private equity and investment management, was inspired to write the book after first writing a letter to his children Ted, 24 and Becca, 22, explaining how their financial futures should be managed when he’s no longer around.
When friends asked to see what his advice was he decided to write the book which he did earlier this year.
“Financial assumptions have altered fundamentally over the last 25 years,” explained Jo. “It is hardly surprising that many of my generation need help in understanding the dramatic changes that have taken place in the financial world and what advice to give to their children.
“There are many vulnerable people who are around two thirds of the way down the track in terms of their careers and savings who suddenly think ‘How much do I need to save to stop working?’” continued Jo. “They haven’t thought about it and in many cases their pension income isn’t going to come anywhere near where they would like it to.”
The book offers explanations and advice on budgeting and saving; pensions; tax; debt and investment and is available locally from Petworth Bookshop priced at £6.99.
Jo is donating all of the profits from local sales to the Petworth Cottage Nursing Home. There will also be opportunity to make additional donations at the bookshop.
The book is also available on Amazon – with profit being donated to The Money Charity (themoneycharity.org.uk) which has similar aspirations to Jo to educate people about managing their personal finances.
He has bought 300 copies to distribute to friends and acquaintances asking in return that they too donate to The Money Charity.
Jo is planning to give a series of talks locally and would be very interested to hear from any organisations that would like him to talk to their group (contact him on jo.feetupbythepool@gmail.com).
He says: “I do very little other charity work and my motivation is simple. If we are lucky enough to have the time to help others, it makes sense to focus on where our experience lies.”
He hopes, through his book and talks, he can get people to face up to their financial requirements; to take an interest in, and control of, their finances and to get their adult children saving as early as possible, as buying a home can no longer be a substitute for saving
